Strong HDD cycle prompts significant target hikes on Western Digital, Seagate: Morgan Stanley
Sep. 29, 2025 9:34 AM ETWestern Digital Corporation (WDC) Stock, STX StockBy: Brandon Evans, SA News Editor
Comments
Western Digital (NASDAQ:WDC) and Seagate Technology (NASDAQ:STX) both received significant price target hikes and reiterated Overweight ratings by Morgan Stanley due to a strengthening hard disk drive cycle.
“While we’ve been hard disk drive bulls for the better part of two
Quick Insights
Stronger HDD demand driven by cloud spending, AI, and accelerating investments in data-intensive technologies.
Earnings power and EPS growth forecasts for both companies have increased significantly, up to 30-70% higher than previous estimates.
Long-term growth and higher margins are expected to drive sustained valuation re-rating above historical levels despite the sector’s past cyclicality.
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